Home is where the tax breaks are: 7 tips for homeowners

2:26 PM,
Mar. 8, 2013

Written by

Jeff Reeves
USA TODAY

While economists and investors can debate whether buying a home is still part of the American dream, it's undeniable that the tax code remains highly favorable to people who own instead of rent.

Whether you were a first-time buyer, a long-time homeowner who refinanced or a seller, there are a host of important deductions available.

The easiest way for a family to get more than just the standard deduction is to claim tax breaks related to a house. Charitable deductions or a smattering of health care costs might not get you above the $5,950 deduction for individuals or the $11,900 mark for married ...